According to the announcement by Guangshen Railway (601333.SH) on the Zhitong Finance and Economics APP, the company (referred to as "Party A") signed a "Cooperation Development Framework Agreement" on the comprehensive development project of the railway site at 27 Liangquan Road, Guangzhou with Zhixin Property (Guangdong) Co., Ltd. (referred to as "Zhixin Property Company" or "Party B") on September 27, 2024.

It is reported that Party A intends to utilize Guangzhou's urban renewal and transformation policy to independently renovate the old factory building and comprehensively develop the railway site at 27 Liangquan Road, Guangzhou through cooperative development. By openly soliciting proposals through the South China United Property Rights Trading Center, Zhixin Property Company has become the intended partner of this project. Due to various pre-land maturation and transformation matters such as land division, change of planned land use, obtaining approval for the renewal plan, processing new real estate registration certificates for project purposes, and signing relocation agreements with operation households of the project site, in order to achieve resource sharing, mutual development, and standardize cooperative actions, both parties, based on the principles of equality, mutual benefit, and win-win cooperation, unanimously agreed to first sign this framework agreement through friendly negotiations. After all pre-land maturation and transformation matters related to the project are completed and specific transaction agreement signing conditions are met, and after both parties have legally followed internal decision-making procedures, a specific transaction agreement will be signed to promote the specific development work of this project, ultimately achieving the cooperative development goals of the project.